calculate the rate of compound interest per annum ,so that the amount on ₹400for 2 years become ₹441
Answers
Answered by
0
SOLUTION:-
given ,A = 441 ,P = 400, n= 2, find r=?
A= p[1+r/100]^n
= 441 = 400(101r/100)^2
= 441/400 = (101r/100)^2
= 101r = 100×(441/400)^1/2
= 101r = 100×21/20
= r = 5×21/100
r = 105/100
( r = 1.05%)ans
given ,A = 441 ,P = 400, n= 2, find r=?
A= p[1+r/100]^n
= 441 = 400(101r/100)^2
= 441/400 = (101r/100)^2
= 101r = 100×(441/400)^1/2
= 101r = 100×21/20
= r = 5×21/100
r = 105/100
( r = 1.05%)ans
Similar questions